I have been offered a lease for $500 / 20% with 5 year lease 2 year opt.
They say I have 4 NMA involving 9 tracts. (Whatever that means)
Involved Ab 1195,404,638,137,682,467
I have tried to school myself but honestly I am lost. Any and all advice appreciated.
Go to the topic UNDERSTANDING WELL SYMBOLS ON MAPS ( Leon County ).Search for this under topics. This will show you how to pull up any abstract that you have or any abstract in any county in Texas. This is how I got started. Mineral acres are difficult to understand. I learned about mineral acres by simply asking AI ( Artificial Intelligence ) What is a mineral acre. Also, you can scroll through many topics and learn a lot of information. Blessings to you!
Surprise Valley has a professional relationship with Comstock Resources. That is a good thing. You could ask for 25% but if not take the 20%, it is a fair offer.
Thanks I tried to get less time on lease and higher bonus. No luck. Did negotiate cost free royalty, Lessor defends title and return of land not held by production at end of primary term. I really have tried to school myself and this forum has been a big help.